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Ronald has a loan with a current balance owing of $150,000. He has to make payments at the end of each of the next 25 years to fully repay the loan. His bank is charging interest at a rate of 7% compounded annually. Which of the following is the best estimate of Ronald's payments? Select one: O a. $12,871.58 O b. $1,283.54 O c. $14,286.66 O d. $26489.83 O e. None of the above All Constructions, Inc. is planning on constructing a new facility. The company plans to pay 20% of the cost in cash and finance the balance. If the company can afford annual payments of $1,281,740 for 30 years and the prevailing interest rate on mortgages is 9% compounded annually, how much can the company afford to spend (approximately) on the new facility (the total of the down payment plus the loan)? Select one: O a. $16.5 million O b. $21.9 million O c. $24.2 million O d. $26.8 million O e. $30.1 million Of. None of the above